Customer Accounts of Morocco’s CIH Bank Exposed

Posted on August 30, 2020 at 2:47 AM

Customer Accounts of Morocco’s CIH Bank Exposed

A recent report revealed that the bank accounts of dozens of Morocco’s CIH bank customers were hacked. Many of the affected customers have reported that they received transaction alerts on transactions they did not make from an international tech company.

“Tens of customers have discovered, when checking their accounts, transactions from their credit cards to an international tech company,” CIH stated.

None of the suspected transactions were authorized by the customers, as they have reported. As it stands, the accounts of the affected customers were compromised after some of them used their credit cards to pay for transactions on a fraudulent website.

Scam websites were used in the attack

After analyzing the nature of the attack, the bank authorities stated that the attack affected only some customers and it did not breach the banking system. With the latest findings, it will be a source of comfort to other customers who have their accounts with the bank.

The statement from the bank revealed that the major issue was fraud in credit card data where the actors used scam websites to deceive their victims and steal their card details. According to the statement, the credit card hacking appears to target different banks in different countries, both national and international banks.

The bank offers assurance to customers

The CIH bank said in its statement that it is working on the incident to find out the root cause and possible remedies to the exposure. It also assured the affected customers that they will get back whatever amount that has been lost in the hacking incident.

CIH has asked customers to lodge their complaints by calling number 4747 or through the banking telephone application.

The bank has also advised customers on what to do to avoid being a victim. The customers should turn off their international e-commerce service after each transaction to prevent the criminals from taking advantage.

Actors have gone international

The wider coverage area of these perpetrators allows them to have opportunities regarding the next point of attack.

Three days ago, the U.S. Cybersecurity and Infrastructure Security Agency (CISA) sent out a warning notification of the attacks and blamed it on a North Korean group known as BeagleBoys.

Based on the reports by the U.S agency, the hacking group plans to steal millions of dollars from banks in different parts of the world.

And according to CISA’s estimation, the hacking group may have stolen close to $2 billion from 2015 to this year via attacks on cryptocurrency exchanges, abuse of international money transfer networks, and ATM cashouts.

And the US agency revealed that the group started coordinated attacks in January this year, with one of the core motives of generating funds for North Korean’s regime.

The online bank criminals have already intensified efforts this year, as they have taken advantage of the present world economy slowed down by the Coronavirus pandemic. They are using any medium to steal bank customer details or funds. Security experts have also warned bank customers to be mindful of security when making any payments online.

Summary
Customer Accounts of Morocco’s CIH Bank Exposed
Article Name
Customer Accounts of Morocco’s CIH Bank Exposed
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A recent report revealed that the bank accounts of dozens of Morocco’s CIH bank customers were hacked. Many of the affected customers have reported that they received transaction alerts on transactions they did not make from an international tech company.
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Koddos
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